Page 28 - LUA May - June 2023 for Magzter

NEWS

2023 narrowing airline revenue

gap compared to 2022: AFRAA

he year 2023 is witnessing a narrowing of airline to further narrow in the second quarter to US$0.2 billion
Trevenue gap compared to 2022 says The African according to AFRAA. Though the full year estimated
Airlines Association (AFRAA) in its March 2023 African revenue gap is yet to be computed, it appears 2023 will
airline’s performance update. In the first 3 months of be a better year compared to the prior year. The 2022
the year, African airlines missed the levels attained in a full year revenue loss was US$3.5 billion for all African
similar period in 2019 by US$0.3 billion. This is expected airlines combined.

Africa-Asia route
Aero Africa launches sees 39% demand

sea-air freight service from growth in Feb: IATA

Asia to Africa via Dubai Apercent in February, an improvement
frican airlines saw volumes decline 3.4
in performance compared to the previous
month (-9.5 percent), according to data
companies, forwarders, importers, from The International Air Transport
and exporters, while its Dubai hub Association (IATA). “The Africa to
is highly strategic in terms of time, Asia route area experienced significant
transport, infrastructure facilities, demand growth in February, up 39.5
and storage costs. “SAS is responsive percent year-on-year. Capacity was 4.7
to the client’s needs for a solution percent above February 2022 levels.”
to service their logistical dilemma Global demand, measured in cargo tonne-
between Asia & Africa. Sea/Air kilometres (CTKs), dropped 7.5 percent
multimodal transport is quite in February compared to February
demanding in terms of the links in 2022 (-8.3 percent for international
ero Africa group expanded its the chain, and it is refreshing to see operations). "This was half the rate of
Aoperations in China and the Aero Africa dedicating their team annual decline seen in the previous two
UAE by launching a new sea-air in Asia, ME, and Africa all focused months (-14.9 percent and -15.3 percent,
combined transport product from to deliver an integrated multimodal respectively). February demand for air
Asia to 70 African destinations via solution to the satisfaction of cargo was 2.9 percent higher than pre-
Dubai. The new SAS product (Sea their clients. “ said Chair Prof. pandemic levels (February 2019), the first
Air Solution) provides specific Issa Baluch, a pioneer in Sea-Air time it has surpassed pre-pandemic levels
benefits to regional economies, multimodal transport and Advisory in eight months."
airlines, airports, seaports, shipping Board Member.

26 LUA MAY - JUNE 2023